American Air parent company AMR Corp. posts $135M profit in July

AMR would have earned $95M if not for bankruptcy expenses for quarter that ended in June

Posted: August 27, 2012 - 1:31pm

ASSOCIATED PRESS

FORT WORTH, Texas — The parent of American Airlines posted net income of $135 million for July as it benefited from the busy summer travel season.

AMR Corp. said in a filing on Monday that it would have made $189 million, if not for bankruptcy expenses of $54 million.

July revenue was $2.33 billion.

AMR ended July with $4.84 billion in cash and short-term investments, down from $4.97 billion at the end of June.

The company did not provide comparable figures for the same months last year.

For the quarter that ended in June, AMR would have earned $95 million if not for bankruptcy expenses. Those expenses meant it posted a net loss of $241 million.

Fort Worth, Texas-based American is the nation’s third-largest airline behind United and Delta. AMR and American filed for bankruptcy protection on Nov. 30. The airline has been getting rid of old planes and trying to cut labor expenses so that its costs will be closer to those of its competitors.